ACADIA PHARMACEUTICALS INC ACAD
We are a biopharmaceutical company focused on turning scientific promise into meaningful innovation that makes the difference for underserved neurological and rare disease communities around the world.
We have two core franchises in neurological and rare diseases. Our neurological disease franchise is anchored by the commercial product NUPLAZID (pimavanserin), which is the first and only drug approved by the U.S. Food and Drug Administration (FDA) for the treatment of hallucinations and delusions associated with Parkinson's disease psychosis (PDP). Our rare disease franchise is anchored by the commercial product DAYBUE, which is the first and only drug approved for the treatment of Rett syndrome. Net product sales from these two commercial products totaled $1,071.5 million for 2025, compared with $957.8 million for 2024.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.07B | $957.8M | $726.4M | $517.2M | $484.1M | $441.8M | $339.1M | $223.8M | $124.9M | $17.3M |
| Cost of revenue | $89.0M | $81.8M | $41.6M | $10.2M | $19.1M | $10.2M | $11.3M | $12.4M | $9.1M | $3.1M |
| Gross profit | $982.5M | $876.0M | $684.8M | $507.1M | $473.3M | $431.5M | $327.7M | $211.4M | $115.8M | $14.3M |
| R&D | $328.8M | $303.2M | $351.6M | $361.6M | $239.4M | $319.1M | $240.4M | $187.2M | $149.2M | $99.3M |
| SG&A | $548.9M | $488.4M | $406.6M | $369.1M | $396.0M | $388.7M | $325.6M | $265.8M | $255.1M | $186.5M |
| Total operating expenses | $966.7M | $727.0M | $799.8M | $740.8M | $654.6M | $728.3M | $585.6M | $471.3M | $417.3M | $290.1M |
| Operating income | $104.8M | $230.8M | -$73.4M | -$223.6M | -$170.4M | -$286.6M | -$246.5M | -$247.4M | -$292.4M | -$272.8M |
| Pre-tax income | $138.9M | $258.1M | -$51.0M | -$213.4M | -$167.5M | -$281.0M | -$234.4M | -$243.9M | -$288.3M | -$270.1M |
| Income tax | $252.1M | $31.6M | $10.2M | $2.5M | $351.0K | $611.0K | $876.0K | $1.3M | $1.1M | $1.3M |
| Net income | $391.0M | $226.0M | -$61.0M | -$214.0M | -$168.0M | -$281.6M | -$235.3M | -$245.2M | -$289.4M | -$271.4M |
| EPS, basic | 2.32 | 1.37 | -0.37 | -1.34 | -1.05 | -1.79 | — | — | — | — |
| EPS, diluted | 2.30 | 1.36 | -0.37 | -1.34 | -1.05 | -1.79 | -1.60 | -1.94 | -2.36 | -2.34 |
| Shares, diluted (wtd. avg.) | $169.9M | $166.4M | $163.8M | $161.7M | $160.5K | $157.3K | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $177.7M | $319.6M | $188.7M | $114.8M | $147.4M | $326.0M | $189.7M | $134.8M | $69.4M | $163.6M |
| Short-term investments | $642.0M | $436.4M | $250.2M | $302.0M | $373.3M | $305.9M | $507.7M | $338.8M | $271.9M | $365.4M |
| Receivables | $121.5M | $98.7M | $98.3M | $62.2M | $64.4M | $48.2M | $35.8M | $26.1M | $17.3M | $5.9M |
| Inventory | $111.4M | $91.7M | $40.4M | $11.6M | $14.1M | $9.7M | $6.3M | $4.1M | $5.2M | $4.2M |
| Total current assets | $1.06B | $938.3M | $616.1M | $507.9M | $617.8M | $717.6M | $760.2M | $526.1M | $373.5M | $547.9M |
| Property, plant and equipment | $7.5M | $4.2M | $4.6M | $6.0M | $8.0M | $9.2M | $3.2M | $3.3M | $2.7M | $3.1M |
| Other intangibles | $108.9M | $119.8M | $65.5M | $0 | $0 | $1.1M | $2.6M | $4.1M | $5.5M | $7.0M |
| Total assets | $1.56B | $1.19B | $749.0M | $587.8M | $700.1M | $782.6M | $783.2M | $540.2M | $384.5M | $561.2M |
| Accounts payable | $10.9M | $16.2M | $17.5M | $12.7M | $6.9M | $8.5M | $7.2M | $3.2M | $8.8M | $3.9M |
| Total current liabilities | $277.1M | $394.9M | $254.3M | $125.6M | $96.1M | $106.0M | $74.8M | $59.6M | $49.0M | $42.6M |
| Total liabilities | $336.8M | $455.0M | $317.2M | $187.4M | $159.2M | $155.6M | $84.0M | $61.1M | $49.2M | $42.7M |
| Retained earnings | -$1.81B | -$2.20B | -$2.43B | -$2.37B | -$2.15B | -$1.99B | -$1.70B | -$1.47B | -$1.22B | -$934.0M |
| Total equity | $1.23B | $732.8M | $431.8M | $400.4M | $540.9M | $627.0M | $699.1M | $479.1M | $335.3M | $518.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $109.8M | $157.7M | $16.7M | -$114.0M | -$125.7M | -$136.2M | -$151.1M | -$167.5M | -$217.8M | -$208.4M |
| Depreciation and amortisation | $871.0K | $920.0K | $1.5M | $2.0M | $2.2M | $1.5M | $1.3M | $1.5M | $1.2M | $843.0K |
| Stock-based compensation | $52.1M | $67.0M | $66.4M | $68.2M | $63.6M | $84.4M | $82.3M | $81.6M | $75.5M | $55.3M |
| Capital expenditure | $4.7M | $523.0K | $50.0K | $0 | $1.1M | $7.6M | $1.1M | $2.1M | $812.0K | $1.5M |
| Investing cash flow | -$302.6M | -$30.5M | $32.0M | $73.2M | -$71.1M | $192.5M | -$165.8M | -$71.5M | $92.5M | -$261.9M |
| Financing cash flow | $49.9M | $6.8M | $25.1M | $8.2M | $18.2M | $81.0M | $371.8M | $306.6M | $31.2M | $533.8M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-174163.
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| PFE | PFIZER INC | $162.16B | 20.9x | -1.6% |